Middle East Conflict Testing Asia's Economic Mettle, ADB Says
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The Asian Development Bank warns that the ongoing Middle East conflict poses significant risks to Asia-Pacific economies, potentially increasing inflation and slowing growth. Chief economist Albert Park highlighted that geopolitical tensions are central to the region's economic outlook. If the conflict persists, growth could drop to 4.7% this year, with inflation rising. The report also notes disruptions in commodity supplies, affecting agriculture and technology sectors, and warns of tighter financial conditions impacting highly leveraged economies. Overall, growth is expected to slow across all subregions, with varying impacts on individual countries.
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